Tilaknagar considers raising funds

Tilaknagar Industries Ltd. (TI) has announced plans to raise capital and secure a favourable legal ruling. As per a regulatory filing, the company’s board is set to consider a fund-raising proposal on July 23 which could be executed through the issuance of equity shares, debentures, warrants, preference shares, bonds, or other financial instruments. The company indicated the fundraising may be conducted in one or more tranches via permitted routes, including public offerings, rights issues, private placements, preferential allotments, and Qualified Institutional Placements (QIP).

This development follows a key legal victory for the company. On July 18, the Bombay High Court issued a pan-India injunction against Allied Blenders & Distillers (ABD), restraining it from launching ‘Mansion House’ and ‘Savoy Club’ brands. The order overturned a previous single-bench ruling that had permitted sales in West Bengal.